White House Won’t Release Summer Economic Projections

White House officials will not release updated economic projections this summer as is common practice, according to the Washington Post. The White House typically unveils a federal budget proposal every February and then provides a “mid-session review” in July or August with updated projections on trends such as unemployment, inflation and economic growth. Two White… Read more »

House Passes Bill Easing Restrictions on PPP Loans

The House voted 417-1 today to pass legislation that will make urgently needed changes to the Paycheck Protection Program (PPP), created to assist small businesses struggling during the ongoing COVID-19 pandemic. The Paycheck Protection Flexibility Act, introduced by Reps. Chip Roy (R-TX) and Dean Phillips (D-MN), is designed to make PPP loans more accessible by… Read more »

Maloney Introduces Pandemic Risk Insurance Act

ASAE endorsed a bill introduced on May 26 by Rep. Carolyn Maloney (D-NY) to create the Pandemic Risk Insurance Program, a system of shared public and private compensation for business interruption losses resulting from future pandemics or public health emergencies. The COVID-19 pandemic has caused severe financial strain on America’s associations resulting from cancelled meetings,… Read more »

Unemployment Rate Continues to Grow

The federal government released new jobless figures today showing an additional 2.4 million Americans sought unemployment aid in the last week. Due to the ongoing COVID-19 pandemic, more than 38 million Americans have filed unemployment claims over the past nine weeks. As part of the CARES Act enacted in March, Congress gave people filing for… Read more »

Trump, GOP Pushing Reopening Over Stimulus

President Trump and Republican leaders are banking on states lifting COVID-19 restrictions to propel economic recovery and ease pressure for another round of legislative stimulus. Since passing the CARES Act in March, congressional Republicans have wanted to pause on another coronavirus relief package to gauge the impact of existing relief measures. Senate Majority Leader Mitch… Read more »